A billion-dollar US professional services company has moved into the UK by taking an established south east firm under its wing. Under the deal, BDB Pitmans, which employs more than 400 people, will be rebranded as Broadfield UK and will become part of a stable of Broadfield firms around the world.

Broadfield is supported by SHP Legal Services (SHPLS), a management services company incorporated by global professional services firm Alvarez and Marsal. The New York-headquartered firm has thousands of staff working from dozens of offices worldwide, and is best known for handling the winding-down of bankrupt bank Lehman Brothers, which was reported to have been worth hundreds of millions of pounds in fees.

Broadfield says that the takeover of BDB Pitmans is the start of its plans to open offices around the globe, with this expansion set to begin in 2025.

SHPLS will provide management services to law firms joining Broadfield in technology, operations and talent acquisition. The idea is that Broadfield member firms will benefit from upgraded technology, economies of scale, improved ability to collaborate on cross border matters and growth in legal talent.

John Hutchinson will take the role of managing partner at Broadfield UK. He was managing partner of BDB Pitmans and has been a partner at legacy firm Pitmans since 1994. Pitmans merged with Bircham Dyson Bell in 2018 and operates from offices in London, Cambridge, Reading and Southampton.

Hutchinson said: ‘The market for legal services is changing rapidly. Mid-market clients are demanding cost effective, high-quality and responsive client-centric legal services. Broadfield is well positioned to meet these demands.’

SHPLS was formed this year specifically to provide services to mid-sized law firms who face difficulties in rising costs, talent shortages and the need for greater efficiency. It was formerly known as Alvarez & Marsal Legal Services.

Its founding leadership team includes chief executive Peter Sacripanti, the former chairman of City law firm McDermott Will & Emery, and former EY partner Christopher Price, who has led legal practices for more than three decades. Sacripanti said: ‘Law firms, especially those that serve middle markets, are facing numerous challenges – technological disruption, globalisation and growth demands.

‘Broadfield with the support of SHPLS provides a transformative solution for member law firms that serve mid-market clients to thrive and meet these challenges.’]

 

Pictured above

Back (L-R): Richard Langley, senior partner, and Simon Yeldham, CFO, Broadfield UK
Front (L-R): Chris Price, managing director and UK/EMEA head of SHPLS and John Hutchinson, managing partner, Broadfield UK